how does one Apply qualitative techniques to forecast demand?

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Answer 1

Answer #1

Some of the methods are used for demand forecasting qualitatively , such as –

“Delphi method”: This is a group based technique where “panel of experts” provide their views (as a group ) on their perspective about the future demand. All the views are captured by the outside individual until consensus is arrived. This is one of the most effective method for long range demand forecast.
“Executive opinions” : This relates with the more subjective perspective from the executives belongs to different functions which relates with the sales or demand. This approach is used along with the quantitative method (e.g. trend extrapolation).
“Consumer surveys” : Surveys are conducted through personal interviews or through telephone to get the consumer purchase data. This is followed by the statistical data analysis to understand the outcome.
“Sales Force Polling” : this is offered by the sales person which gives potential insight on the demand.

Answer 2

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